SPY's Direction Hinging on These Reports. The SPDR S&P 500 ETF Trust (NYSE:SPY) has risen 6.5% so far this year, largely on the backs of Amazon (+10% YTD), and Facebook (+15% YTD), and in spite of Apple (-6% YTD) and Alphabet (-2.4% YTD).
U.S. stocks looked set for a lower open on Tuesday morning, as a number of disappointing earnings reports put a damper on the SPDR S&P 500 ETF Trust (NYSE:SPY) recent rally. The SPY fell $0.50 (-0.23%) to $215.91 in volatile premarket trading, ...
The S&P 500 has recently been trading for more than 20x trailing price-to-earnings (P/E), according to Bloomberg data. The last time the market traded at these levels was 2009, when earnings were still depressed by the financial crisis and recession.
In today's session SPDR S&P 500 ETF Trust (SPY) recorded an unusually high (1,438) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious SPY decrease.